I received $3,549 in K-1 income { IRD} It also says that there is $2,413 federal tax
Allocable to beneficiary What does that mean to the K-1 income

Schedule K-1 income is normally reported on page 2 of the Schedule E.

To provide a more detailed answer, I would need to see the Schedule K-1 itself.

If you want that kind of evaluation, email me at [email protected].